JAMB Economics 2016 Objective — Question 36

Question 36 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2016 Objective paper, with the correct answer and a full explanation.

Goods sold in perfectly competitive markets are generally

A. homogeneousCorrect
B. intermediate and final
C. durable and non-durable
D. heterogeneous

Explanation

Goods sold in perfectly competitive markets are homogeneous - identical in size, shape, and quality.

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